Dundee FC aim to clear debt with multi-million pound shares plan
Vote takes place on June 3rd
Last updated 17th May 2024
Dundee FC's owners are proposing a £9m shares plan which would wipe out the club's debt.
Shareholders will be asked to vote on the move at an Extraordinary General Meeting next month.
It's hoped this could lead to investment from partner club Burnley’s owner ALK Capital. In January The Dark Blues and The Clarets announced a "strategic alliance" and four players have been on-loan at Dens Park from the English team this season.
Lindsay Darroch, Dundee FC Company Secretary says : “The announcement of Dundee Football Club calling an Extraordinary General Meeting is to allow Shareholders to vote on resolutions that will allow existing debt to be converted into equity and also allow for further inward investment into the club. If approved by Shareholders, this will enable Football Partners Scotland to convert loans into shares and allow them to make and to seek from others further investment into the club. This motion further illustrates the current owners long-term commitment to Dundee Football Club.”